Cardinal Health (NYSE:CAH) Updates FY 2024 Earnings Guidance

Cardinal Health (NYSE:CAH) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 7.200-7.350 for the period, compared to the consensus earnings per share estimate of 7.290. The company issued revenue guidance of -. Cardinal Health also updated its FY24 guidance to $7.20-7.35 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Leerink Partnrs reaffirmed an outperform rating on shares of Cardinal Health in a research note on Monday, February 26th. Barclays assumed coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an overweight rating and a $117.00 price objective on the stock. TheStreet lowered Cardinal Health from a b- rating to a c+ rating in a research note on Wednesday, December 27th. Argus raised Cardinal Health from a hold rating to a buy rating in a research note on Friday, February 9th. Finally, UBS Group lifted their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of Moderate Buy and an average price target of $103.07.

Cardinal Health Stock Performance

Shares of CAH opened at $102.83 on Tuesday. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04. The business’s 50 day moving average price is $109.58 and its two-hundred day moving average price is $104.50. The firm has a market cap of $25.01 billion, a PE ratio of 40.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. Research analysts predict that Cardinal Health will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.